Tag Archives: healthcare

]init[ AG expands its healthcare business with the acquisition of HBSN Group

Rivean
  • Acquisition of HBSN Group enables further expansion of ]init[ AG’s customer base within the healthcare market
  • Strategic combination creates a market leader in digitalization for the public and healthcare sector in Germany

Berlin – With the acquisition of the HBSN Group, a specialist in digital transformation within the healthcare sector, ]init[ AG – a portfolio company of Rivean Capital and EMERAM Capital Partners – expands its comprehensive end-to-end digitalization portfolio beyond the public sector into healthcare. The acquisition establishes a leading digital specialist with over 1,500 employees across 18 locations. Both parties have agreed to keep the purchase price confidential.

“Germany faces significant challenges in both administrative digitalization and the transformation of the healthcare sector. Complex digitalization programs require effective and innovative end-to-end expertise, that are developed, implemented, and operated in a holistic and tailored manner. The combination of ]init[ and HBSN creates a unique service offering for comprehensive digital solutions,” said Harald Felling, Chief Executive Officer of ]init[ AG. “Our clients from both sectors will benefit from our combined strengths as well as additional competencies in key innovation fields, such as AI, IT security, data-sovereign cloud platforms, and IT service management. I look forward to the joint efforts in driving the digitalization, modernization, and advancement of public administration and healthcare in Germany.”

With the acquisition of HBSN Group, ]init[ AG expands its healthcare client base by approximately 380 active institutions. These include MD-IT, covering IT operations and support services for all medical services, AOK Saxony-Anhalt, which has a framework agreement for online services; and the Ministry of Social Affairs, Health, and Integration of Baden-Württemberg, which is developing a unified public health application landscape for all state health departments.

“Large-scale healthcare tenders increasingly require end-to-end capabilities. Together with ]init[‘s expertise, we can successfully meet this growing demand,” says Tobias Niemann, Founder of HBSN Group. “As part of ]init[, the competences and network of HBSN expands manifold. I look forward to the collaboration and the diverse synergies that will benefit both parties and our clients.” In light of the structural changes in the healthcare market, the founders and management team of HBSN have taken this strategic step to enhance their market position.

“The acquisition of the HBSN Group is a strategically significant step that strengthens ]init[’s position as one of a leading providers of digitalization services in regulated markets,” says Matthias Wilcken, Senior Partner and Member of the Executive Committee at Rivean Capital. “With the support of Rivean Capital and EMERAM Capital Partners, who bring strategic know-how and capital, we are enabling ]init[ to further accelerate growth and achieve substantial progress in key markets such as the healthcare sector. This strategic combination lays the foundation for even greater capabilities to successfully meet the increasing demands for digital transformation in Germany.”

“The structural change in the healthcare system is well underway. One of the key challenges is the consistent and sustainable digitalization of this sector. With the acquisition of the HBSN Group, ]init[ is expanding its presence in regulated markets and further driving digital transformation in this area,” says Dr. Ruprecht Puchstein, Principal at EMERAM Capital Partners. “It is a central part of ]init[‘s strategy to transfer the existing expertise in the public sector to other regulated industries – a process that has been significantly accelerated by this acquisition.”

About ]init[ AG für digitale Kommunikation
]init[ AG für digitale Kommunikation is a leading expert for digitalization for the public sector and regulated markets. Founded in 1995, the company employs approximately 1,400 people across its locations in Berlin, Hamburg, Cologne, Leipzig, Munich, and Mainz. Additional subsidiaries of ]init[ AG include Swiss-based Ironforge Consulting AG, with offices in Bern and Zurich, as well as ]init[.DCP – Digital Communication Portugal, Unipessoal Lda in Porto. For more information, visit www.init.de.

About HBSN Group
Over the past 18 years, HBSN Group has developed into a successful consulting and technology partner in the healthcare market. The group includes HBSN GmbH with its subsidiaries HBSN Certifications GmbH in Germany, and xitee k.s. as well as xitee Beteiligungs s.r.o. in the Czech Republic. The companies support university hospitals and clinics, private and statutory health insurers, medical services, public health authorities, and IT system providers in software development, IT operations, and transformation projects. With 150 employees, the HBSN Group maintains a solid network of partners at its locations in Bad Hersfeld, Braunschweig, Brno, Hamburg, Hornburg, Frankfurt am Main, Leipzig, Lüneburg, Munich, and Prague. For more information, visit www.hbsn-gruppe.de.

About Rivean Capital
Rivean Capital is a leading European private equity investor in mid-market transactions with operations in the Benelux, DACH region, and Italy. With offices in Frankfurt am Main, Amsterdam, Brussels, Zug and Milan, funds advised by Rivean Capital manage more than €5bn in assets. Since its inception in 1982, Rivean has supported more than 250 companies in realizing their growth ambitions and has a strong track record of supporting and scaling successful businesses with cross-border growth agendas, including footprint expansions and operational excellence trajectories. For more information, visit www.riveancapital.com.

About EMERAM
EMERAM is one of the leading investment managers for investments in mid-sized companies in the German-speaking region. The funds advised by EMERAM provide more than 800 million euros in capital for the development of growth companies. The investment strategy focuses on the sectors Digital Transformation, Health and Well-Being, as well as Energy Transition. EMERAM acts as a long-term business development partner for its portfolio companies and promotes sustainable growth (both organic and inorganic). In addition, the implementation of comprehensive ESG concepts is a key focus. For more information, visit www.emeram.com.

Contacts

Rivean Capital
Maikel Wieland (Head of Investor Relations & Co-Investments)
m.wieland@riveancapital.com
+41 43 268 20 30

]init[ AG für digitale Kommunikation
Sascha Lansmann (Corporate Communications)
sascha.lansmann@init.de
+49 30 97006 759

Categories: News

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]init[ AG expands its healthcare business with the acquisition of HBSN Group

Rivean
  • Acquisition of HBSN Group enables further expansion of ]init[ AG’s customer base within the healthcare market
  • Strategic combination creates a market leader in digitalization for the public and healthcare sector in Germany

Berlin – With the acquisition of the HBSN Group, a specialist in digital transformation within the healthcare sector, ]init[ AG – a portfolio company of Rivean Capital and EMERAM Capital Partners – expands its comprehensive end-to-end digitalization portfolio beyond the public sector into healthcare. The acquisition establishes a leading digital specialist with over 1,500 employees across 18 locations. Both parties have agreed to keep the purchase price confidential.

“Germany faces significant challenges in both administrative digitalization and the transformation of the healthcare sector. Complex digitalization programs require effective and innovative end-to-end expertise, that are developed, implemented, and operated in a holistic and tailored manner. The combination of ]init[ and HBSN creates a unique service offering for comprehensive digital solutions,” said Harald Felling, Chief Executive Officer of ]init[ AG. “Our clients from both sectors will benefit from our combined strengths as well as additional competencies in key innovation fields, such as AI, IT security, data-sovereign cloud platforms, and IT service management. I look forward to the joint efforts in driving the digitalization, modernization, and advancement of public administration and healthcare in Germany.”

With the acquisition of HBSN Group, ]init[ AG expands its healthcare client base by approximately 380 active institutions. These include MD-IT, covering IT operations and support services for all medical services, AOK Saxony-Anhalt, which has a framework agreement for online services; and the Ministry of Social Affairs, Health, and Integration of Baden-Württemberg, which is developing a unified public health application landscape for all state health departments.

“Large-scale healthcare tenders increasingly require end-to-end capabilities. Together with ]init[‘s expertise, we can successfully meet this growing demand,” says Tobias Niemann, Founder of HBSN Group. “As part of ]init[, the competences and network of HBSN expands manifold. I look forward to the collaboration and the diverse synergies that will benefit both parties and our clients.” In light of the structural changes in the healthcare market, the founders and management team of HBSN have taken this strategic step to enhance their market position.

“The acquisition of the HBSN Group is a strategically significant step that strengthens ]init[’s position as one of a leading providers of digitalization services in regulated markets,” says Matthias Wilcken, Senior Partner and Member of the Executive Committee at Rivean Capital. “With the support of Rivean Capital and EMERAM Capital Partners, who bring strategic know-how and capital, we are enabling ]init[ to further accelerate growth and achieve substantial progress in key markets such as the healthcare sector. This strategic combination lays the foundation for even greater capabilities to successfully meet the increasing demands for digital transformation in Germany.”

“The structural change in the healthcare system is well underway. One of the key challenges is the consistent and sustainable digitalization of this sector. With the acquisition of the HBSN Group, ]init[ is expanding its presence in regulated markets and further driving digital transformation in this area,” says Dr. Ruprecht Puchstein, Principal at EMERAM Capital Partners. “It is a central part of ]init[‘s strategy to transfer the existing expertise in the public sector to other regulated industries – a process that has been significantly accelerated by this acquisition.”

About ]init[ AG für digitale Kommunikation
]init[ AG für digitale Kommunikation is a leading expert for digitalization for the public sector and regulated markets. Founded in 1995, the company employs approximately 1,400 people across its locations in Berlin, Hamburg, Cologne, Leipzig, Munich, and Mainz. Additional subsidiaries of ]init[ AG include Swiss-based Ironforge Consulting AG, with offices in Bern and Zurich, as well as ]init[.DCP – Digital Communication Portugal, Unipessoal Lda in Porto. For more information, visit www.init.de.

About HBSN Group
Over the past 18 years, HBSN Group has developed into a successful consulting and technology partner in the healthcare market. The group includes HBSN GmbH with its subsidiaries HBSN Certifications GmbH in Germany, and xitee k.s. as well as xitee Beteiligungs s.r.o. in the Czech Republic. The companies support university hospitals and clinics, private and statutory health insurers, medical services, public health authorities, and IT system providers in software development, IT operations, and transformation projects. With 150 employees, the HBSN Group maintains a solid network of partners at its locations in Bad Hersfeld, Braunschweig, Brno, Hamburg, Hornburg, Frankfurt am Main, Leipzig, Lüneburg, Munich, and Prague. For more information, visit www.hbsn-gruppe.de.

About Rivean Capital
Rivean Capital is a leading European private equity investor in mid-market transactions with operations in the Benelux, DACH region, and Italy. With offices in Frankfurt am Main, Amsterdam, Brussels, Zug and Milan, funds advised by Rivean Capital manage more than €5bn in assets. Since its inception in 1982, Rivean has supported more than 250 companies in realizing their growth ambitions and has a strong track record of supporting and scaling successful businesses with cross-border growth agendas, including footprint expansions and operational excellence trajectories. For more information, visit www.riveancapital.com.

About EMERAM
EMERAM is one of the leading investment managers for investments in mid-sized companies in the German-speaking region. The funds advised by EMERAM provide more than 800 million euros in capital for the development of growth companies. The investment strategy focuses on the sectors Digital Transformation, Health and Well-Being, as well as Energy Transition. EMERAM acts as a long-term business development partner for its portfolio companies and promotes sustainable growth (both organic and inorganic). In addition, the implementation of comprehensive ESG concepts is a key focus. For more information, visit www.emeram.com.

Contacts

Rivean Capital
Maikel Wieland (Head of Investor Relations & Co-Investments)
m.wieland@riveancapital.com
+41 43 268 20 30

]init[ AG für digitale Kommunikation
Sascha Lansmann (Corporate Communications)
sascha.lansmann@init.de
+49 30 97006 759

Categories: News

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KKR and Henry Schein Announce Strategic Investment

KKR
  • KKR to become 12% common shareholder in Henry Schein
  • Henry Schein and KKR to collaborate on range of value creation opportunities
  • Two KKR representatives with deep sector experience to join the Henry Schein Board as independent directors
  • Separately, Robert J. Hombach, who brings extensive financial and strategic experience in health care, has joined the Henry Schein Board as an independent director
  • Announces preliminary unaudited fourth-quarter 2024 GAAP diluted EPS of $0.74 and non-GAAP diluted EPS of $1.19, and preliminary 2025 financial guidance for full-year non-GAAP EPS of low to mid single digit growth
  • In addition, Henry Schein has increased its share repurchase program authorization by $500 million

MELVILLE, N.Y.–(BUSINESS WIRE)–Henry Schein, Inc. (Nasdaq: HSIC) (“Henry Schein” or the “Company”), the world’s largest provider of health care solutions to office-based dental and medical practitioners, today announced a strategic investment by funds affiliated with KKR, a leading global investment firm.

“Our Board and management have great respect for KKR, including its partnership-oriented approach and experience in supporting value creation across its investments,” said Stanley Bergman, CEO, Henry Schein.

In addition to KKR’s current holdings, KKR will make an additional $250 million investment in the Company’s common stock (the “Investment”). As a result, KKR will become the largest non-index fund shareholder in the Company with a 12% position, demonstrating the firm’s confidence in Henry Schein, its management team, and its BOLD+1 strategy. KKR will also have the ability to purchase additional shares via open market purchases up to a total equity stake of 14.9% of the outstanding common shares of the Company.

In addition, under the agreement between Henry Schein and KKR, Max Lin and William K. “Dan” Daniel will join Henry Schein’s Board of Directors (the “Board”) as independent directors.

Mr. Lin is a partner at KKR where he leads the Health Care industry team within its Americas Private Equity platform. He will join the Board’s Nominating and Governance Committee as Vice Chair to participate in governance matters, including the ongoing consideration of Board composition and the Board’s ongoing CEO succession planning process. Mr. Lin will also join the Strategic Advisory Committee, which oversees the Company’s strategic planning activities.

Mr. Daniel, an executive advisor to KKR and former Executive Vice President at Danaher Corporation, will join the Board’s Compensation and Strategic Advisory Committees.

Separately, the Board has appointed Robert J. “Bob” Hombach as an independent director. Mr. Hombach, former Executive Vice President, Chief Financial Officer and Chief Operations Officer of Baxalta Inc. and prior to this, Corporate Vice President and Chief Financial Officer of Baxter International Inc., is expected to join the Board’s Strategic Advisory Committee.

These highly experienced executives will add to the Company’s significant and complementary expertise across finance, operations, and in dental and other areas of health care. With these appointments, the Board will temporarily increase to 16 directors before reducing to 14 directors effective immediately following the Company’s 2025 Annual Meeting and expects to further reduce the size of the Board over time.

Together, Henry Schein and KKR will collaborate to pursue additional opportunities to create shareholder value and drive the business in its next phase of growth, with a specific focus on strategic growth, operational excellence, capital allocation, and employee engagement, including exploring broad-based equity ownership.

“Our Board and management have great respect for KKR, including its partnership-oriented approach and experience in supporting value creation across its investments. This is a testament to the hard work of Team Schein to advance our leadership as a solutions-driven innovator for health care professionals,” said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. “We regularly engage with our shareholders and welcome their constructive dialogue, advice, and recommendations. We look forward to collaborating with Max, Dan, and Bob in pursuing the opportunities ahead of us and building on Henry Schein’s incredible foundation.”

“We have long admired Stan and the broader Henry Schein organization. KKR is excited to support Henry Schein in its mission of enabling dental and medical practitioners, and believe the Company has tremendous growth potential. We look forward to working with the management team on strategic and operational initiatives to drive value for all of Henry Schein’s stakeholders,” said Mr. Lin.

“Henry Schein is an exceptional company with a well-earned reputation for innovation, quality relationships with customers, and a talented team. I am honored to join the Henry Schein Board and look forward to contributing to creating significant value for all of Henry Schein’s stakeholders in the years ahead,” said Mr. Hombach.

Upon consummation of the transactions, the Company will issue new shares of common stock to funds affiliated with KKR for an investment of $250 million, based on market price. KKR is funding this investment primarily from North America Fund XIII. As part of the agreement, KKR has also agreed to customary voting and other provisions. The consummation of the transactions is subject to customary closing conditions, including the expiration or termination of any waiting period under the Hart-Scott-Rodino Act and foreign regulatory approvals. The full agreement between Henry Schein and KKR will be filed on a Form 8-K with the Securities and Exchange Commission (the “SEC”).

Preliminary, Unaudited Fourth-Quarter and Full-Year 2024 Financial Results

Henry Schein also today reported preliminary, unaudited revenue, Adjusted EBITDA, earnings, and operating cash flow for the fourth quarter and fiscal year ended December 28, 2024:

  • Preliminary revenue in the fourth quarter totaled $3.2 billion, bringing revenue for the full year of 2024 to $12.7 billion.
  • Preliminary GAAP net income for the fourth quarter was $94 million, or $0.74 per diluted share, resulting in preliminary full-year 2024 GAAP net income of $390 million, or $3.05 per diluted share.
  • Preliminary non-GAAP net income for the fourth quarter was $149 million, or $1.19 per diluted share, resulting in preliminary full-year 2024 non-GAAP net income of $605 million, or $4.74 per diluted share.
  • Preliminary Adjusted EBITDA for the fourth quarter was $270 million, resulting in preliminary full-year 2024 Adjusted EBITDA of $1,061 million.
  • Preliminary fourth quarter and full year 2024 operating cash flow was $204 million and $848 million, respectively.

Exhibit A includes the GAAP to non-GAAP reconciliation of preliminary net income and preliminary earnings per share. Exhibit B includes a reconciliation of preliminary GAAP net income to preliminary Adjusted EBITDA.

Preliminary Full-Year 2025 Financial Guidance

Henry Schein also today announced preliminary financial guidance for 2025. Revenues and non-GAAP diluted earnings per share are both expected to grow in the range of low to mid-single digits in 2025 as compared to 2024. Adjusted EBITDA is expected to grow in a mid-single digit range in 2025 as compared to 2024.

Guidance is for current continuing operations as well as announced acquisitions and does not include the impact of restructuring and integration expenses, amortization expense of acquired intangible assets, certain expenses directly associated with the cybersecurity incident or any potential insurance claim recovery, and extraordinary legal and advisory expenses. This guidance also assumes modest improvement in the dental and medical markets during the year, supported by our strategic initiatives and recent investments, a net positive contribution from our restructuring plan offset by investments in technology and new product launches, and that foreign currency exchange rates remain generally consistent with 2024 levels.

The Company is providing preliminary guidance for 2025 diluted EPS on a non-GAAP basis and for preliminary 2025 Adjusted EBITDA, as noted above. The Company is not providing a reconciliation of its preliminary 2025 non-GAAP guidance to its preliminary 2025 diluted EPS prepared on a GAAP basis, or its preliminary 2025 Adjusted EBITDA to net income prepared on a GAAP basis. This is because the Company is unable to provide without unreasonable effort an estimate of restructuring costs related to an ongoing initiative to drive operating efficiencies, including the corresponding tax effect, which will be included in the Company’s preliminary 2025 diluted EPS and net income prepared on a GAAP basis. The inability to provide this reconciliation is due to the uncertainty and inherent difficulty of predicting the occurrence, magnitude, financial impact, and timing of related costs. Management does not believe these items are representative of the Company’s underlying business performance. For the same reasons, the Company is unable to address the probable significance of the unavailable information, which could be material to future results.

Share Repurchase Authorization

In addition, the Company’s Board of Directors has authorized an increase of $500 million to the Company’s stock repurchase program, with $250 million to be executed through accelerated share repurchases.

Fourth Quarter and Full-Year 2024 Results and Conference Call

The Company intends to release its fourth quarter and full-year 2024 financial results before the stock market opens on Tuesday, February 25, 2025, and will provide a live webcast of its earnings conference call on the same day beginning at 8:00 a.m. Eastern time.

Advisors

Centerview Partners LLC and Evercore Inc. are serving as financial advisors and Cleary Gottlieb Steen & Hamilton LLP is serving as legal advisor to Henry Schein. Kirkland & Ellis LLP is serving as legal advisor to KKR.

About Max Lin

Max Lin leads the Health Care industry team within KKR. He is a member of the Investment Committee and Portfolio Management Committee for Americas Private Equity, the Health Care Strategic Growth Investment Committee, and the Global Conflicts and Compliance Committee. Since joining KKR in 2005, Mr. Lin has overseen a number of investments in the areas of dental services and other health care providers, medical products and equipment, and health care software and information technology. He holds a B.S. and B.A.S., summa cum laude, from the University of Pennsylvania and an M.B.A. from Harvard Business School.

About William K. “Dan” Daniel

Mr. Daniel has over three decades of global leadership experience in Industrial and Healthcare sectors, including 14 years as Executive Vice President at Danaher, where he oversaw multiple segments and played a key role in advancing the company’s culture and business system. He also served as executive sponsor of Danaher’s Diversity & Inclusion Council before retiring in 2020. Mr. Daniel has most recently served as an Executive Advisor to KKR.

About Robert J. Hombach

Mr. Hombach served as Executive Vice President, Chief Financial Officer and Chief Operations Officer of Baxalta Inc., a public biopharmaceutical company, until it was acquired by Shire plc, in June 2016. Baxalta was spun off from its parent, Baxter International Inc. in July 2015, where Mr. Hombach served as Corporate Vice President and Chief Financial Officer. Mr. Hombach currently serves on the board of BioMarin Pharmaceuticals Inc., a public biotechnology company, and Embecta Corporation, a public diabetes company. He has also previously served on the boards of Aptinyx Inc., CarMax, Inc., Naurex, Inc., and Surgical Innovation Associates, Inc. Mr. Hombach holds an M.B.A. from Northwestern University’s J.L. Kellogg Graduate School of Management and a B.S. in Finance cum laude from the University of Colorado.

About Henry Schein, Inc.

Henry Schein, Inc. (Nasdaq: HSIC) is a solutions company for health care professionals powered by a network of people and technology. With approximately 26,000 Team Schein Members worldwide, the Company’s network of trusted advisors provides more than 1 million customers globally with more than 300 valued solutions that help improve operational success and clinical outcomes. Our Business, Clinical, Technology, and Supply Chain solutions help office-based dental and medical practitioners work more efficiently so they can provide quality care more effectively. These solutions also support dental laboratories, government and institutional health care clinics, as well as other alternate care sites.

Henry Schein operates through a centralized and automated distribution network, with a selection of more than 300,000 branded products and Henry Schein corporate brand products in our distribution centers.

A FORTUNE 500 Company and a member of the S&P 500® index, Henry Schein is headquartered in Melville, N.Y., and has operations or affiliates in 33 countries and territories. The Company’s sales reached $12.3 billion in 2023, and have grown at a compound annual rate of approximately 11.5 percent since Henry Schein became a public company in 1995.

For more information, visit Henry Schein at www.henryschein.com, Facebook.com/HenrySchein, Instagram.com/HenrySchein, LinkedIn.com/Company/HenrySchein, and @HenrySchein on X.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

Cautionary Note Regarding Forward-Looking Statements and Use of Non-GAAP Financial Information

In accordance with the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995, we provide the following cautionary remarks regarding important factors that, among others, could cause future results to differ materially from the forward-looking statements, expectations and assumptions expressed or implied herein.

The information set forth in this press release, including statements regarding the expected changes to the Board, the shares to be issued in the Investment, satisfaction of the conditions set forth in the agreement, our preliminary, unaudited financial results for 2024 and our initial 2025 financial guidance constitute or may be deemed to constitute forward-looking statements (including within the meaning of the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995). These expectations and statements are prospective in nature and are subject to risks and uncertainties and are not guarantees of future performance, including statements about the consummation of the expected changes to the Board or the Investment and the anticipated benefits thereof. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance and achievements or industry results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Some forward-looking statements discuss the Company’s plans, strategies and intentions and are generally identified by the use of such terms as “will be,” “subject to,” “may,” “could,” “expect,” “intend,” “believe,” “plan,” “estimate,” “forecast,” “project,” “anticipate,” “to be,” “to make” or other comparable terms. A fuller discussion of our operations, financial condition and status of litigation matters, including factors that may affect our business and future prospects, is contained in other documents we have filed with the United States Securities and Exchange Commission, or SEC, including our Annual Report on Form 10-K, and will be contained in all subsequent periodic filings we make with the SEC. These documents identify in detail important risk factors that could cause our actual performance to differ materially from current expectations.

Risk factors and uncertainties that could cause actual results to differ materially from current and historical results include, but are not limited to: the possibility that the expected changes to the Board or the Investment are not consummated and that any of the anticipated benefits will not be realized or will not be realized within the expected time period, our dependence on third parties for the manufacture and supply of our products; our ability to develop or acquire and maintain and protect new products (particularly technology products) and technologies that achieve market acceptance with acceptable margins; transitional challenges associated with acquisitions, dispositions and joint ventures, including the failure to achieve anticipated synergies/benefits, as well as significant demands on our operations, information systems, legal, regulatory, compliance, financial and human resources functions in connection with acquisitions, dispositions and joint ventures; certain provisions in our governing documents that may discourage third-party acquisitions of us; adverse changes in supplier rebates or other purchasing incentives; risks related to the sale of corporate brand products; security risks associated with our information systems and technology products and services, such as cyberattacks or other privacy or data security breaches (including the October 2023 incident); effects of a highly competitive (including, without limitation, competition from third-party online commerce sites) and consolidating market; changes in the health care industry; risks from expansion of customer purchasing power and multi-tiered costing structures; increases in shipping costs for our products or other service issues with our third-party shippers; general global and domestic macro-economic and political conditions, including inflation, deflation, recession, ongoing wars, fluctuations in energy pricing and the value of the U.S. dollar as compared to foreign currencies, and changes to other economic indicators, international trade agreements, potential trade barriers and terrorism; geopolitical wars; failure to comply with existing and future regulatory requirements; risks associated with the EU Medical Device Regulation; failure to comply with laws and regulations relating to health care fraud or other laws and regulations; failure to comply with laws and regulations relating to the collection, storage and processing of sensitive personal information or standards in electronic health records or transmissions; changes in tax legislation; risks related to product liability, intellectual property and other claims; risks associated with customs policies or legislative import restrictions; risks associated with disease outbreaks, epidemics, pandemics (such as the COVID-19 pandemic), or similar wide-spread public health concerns and other natural or man-made disasters; risks associated with our global operations; litigation risks; new or unanticipated litigation developments and the status of litigation matters; our dependence on our senior management, employee hiring and retention, and our relationships with customers, suppliers and manufacturers; and disruptions in financial markets. The order in which these factors appear should not be construed to indicate their relative importance or priority.

We caution that these factors may not be exhaustive and that many of these factors are beyond our ability to control or predict. Accordingly, any forward-looking statements contained herein should not be relied upon as a prediction of actual results. We undertake no duty and have no obligation to update forward-looking statements except as required by law.

Included within the press release are non-GAAP financial measures that supplement the Company’s Consolidated Statements of Income prepared under generally accepted accounting principles (GAAP). These non-GAAP financial measures adjust the Company’s actual results prepared under GAAP to exclude certain items. In the schedule attached to the press release, the non-GAAP measures have been reconciled to and should be considered together with the Consolidated Statements of Income. Management believes that non-GAAP financial measures provide investors with useful supplemental information about the financial performance of our business, enable comparison of financial results between periods where certain items may vary independent of business performance and allow for greater transparency with respect to key metrics used by management in operating our business. The impact of certain items that are excluded include integration and restructuring costs, and amortization of acquisition-related assets, because the amount and timing of such charges are significantly impacted by the timing, size, number and nature of the acquisitions we consummate and occur on an unpredictable basis. These non-GAAP financial measures are presented solely for informational and comparative purposes and should not be regarded as a replacement for corresponding, similarly captioned, GAAP measures.


Contacts

Investors
Ronald N. South
Senior Vice President and Chief Financial Officer
ronald.south@henryschein.com
(631) 843-5500

Graham Stanley
Vice President, Investor Relations and Strategic Financial Project Officer
graham.stanley@henryschein.com
(631) 843-5500

Media
Henry Schein
Gerard Meuchner
Vice President, Chief Global Communications Officer
gerard.meuchner@henryschein.com
(631) 390-8227

KKR
Liidia Liuksila
media@KKR.com

 

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EQT Life Sciences leads USD 97 million Series B in Atalanta Therapeutics, a biotech firm developing treatments for epilepsy and Huntington’s disease

  • Atalanta Therapeutics is pioneering RNA interference (RNAi) for the treatment of neurological diseases, having developed a proprietary platform that, for the first time enables RNAi to be deployed as a therapeutic approach throughout the brain and spinal cord

  • The USD 97 million Series B financing will support Phase 1 clinical trials of the company’s investigational RNAi therapies for KCNT1-related epilepsy and Huntington’s disease

  • EQT Life Sciences is leading the round investing from its LSP Dementia Fund, which is co-led by Sanofi Ventures with further participation from RiverVest Venture Partners, abrdn, Inc., Mirae Asset Financial Group and F-Prime Capital

EQT is pleased to announce that EQT Life Sciences has led a USD 97 million Series B funding round in Atalanta Therapeutics (“Atalanta” or “the Company”). Atalanta, a biotechnology company based in Boston, USA, is at the forefront of using RNA interference (RNAi) to treat neurological diseases.

RNA is a molecule that carries genetic instructions from DNA, guiding cells in protein production and serving as a blueprint for cellular processes. RNAi is a method of altering these instructions, allowing the targeting of diseases at the molecular level by potentially silencing harmful genes. Atalanta has developed a proprietary RNAi platform called di-siRNA, which, for the first time, enables RNAi to be deployed as a therapeutic approach throughout the brain and spinal cord. With this new funding, Atalanta aims to advance its investigational RNAi therapies for KCNT1-related epilepsy and Huntington’s disease to Phase 1 clinical trials.

Alicia Secor, M.B.A., Atalanta’s President and Chief Executive Officer, said: “We’re excited by the support we’ve received from this strong group of investors, led by EQT Life Sciences. This Series B will support a path to the clinic for two programs for serious neurological diseases that today lack disease-modifying therapies: KCNT1-related epilepsy and Huntington’s disease. We’re diligently progressing these medicines toward IND submissions next year so that we can start our Phase 1 trials and reach patients who are waiting.”

“Atalanta’s di-siRNA technology has shown promising ability to durably and evenly silence disease-promoting genes throughout previously inaccessible regions of the brain and spinal cord — opening a wide range of treatment possibilities for devastating neurological diseases,” said Arno de Wilde, M.D., Ph.D., M.B.A., Managing Director at EQT Life Sciences. “EQT is proud to lead this investment in Atalanta’s future as part of such a high-quality investor syndicate, and we look forward to partnering with Alicia and Atalanta’s leadership to support their continued success.”

Alongside EQT Life Sciences, the financing was co-led by Sanofi Ventures, with participation from other new investors RiverVest Venture Partners, abrdn, Inc., Mirae Asset Financial Group and existing investor F-Prime Capital. The Series B financing brings Atalanta’s total capital generated to date from financings and partnerships with Genentech and Biogen to USD 240 million.

Contact
EQT Press Office, press@eqtpartners.com

About EQT Life Sciences
EQT Life Sciences was formed in 2022 following an integration of LSP, a leading European life sciences and healthcare venture capital firm, into the EQT platform. As LSP, the firm raised over EUR 3.0 billion (USD 3.5 billion) and supported the growth of more than 150 companies since it started to invest over 30 years ago. With a dedicated team of highly experienced investment professionals, coming from backgrounds in medicine, science, business, and finance, EQT Life Sciences backs the smartest inventors who have ideas that could truly make a difference for patients. The LSP Dementia Fund (USD 297 million) started in 2020 and has a dedicated team of neurologists and neuroscientists focused on investing in therapeutics targeting neurodegenerative diseases.

For more information, go to https://eqtgroup.com/private-capital/life-sciences/

About Atalanta Therapeutics
Atalanta Therapeutics is a biotechnology company pioneering new treatment options for neurological diseases by utilizing its proprietary RNA interference platform, di-siRNA, which for the first time enables RNA interference to be deployed as a therapeutic approach throughout the brain and spinal cord. The company is advancing a deep pipeline of wholly-owned programs, with IND submissions planned in 2025 for programs in KCNT1-related epilepsy and Huntington’s disease, in addition to ongoing strategic collaborations with Biogen and Genentech. Atalanta is headquartered in Boston, Mass. For more information, visit www.atalantatx.com and follow us on Twitter and LinkedIn.

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Forbion BioEconomy Fund I surpasses €150 million target, raising €164.5 million with strong institutional LP support

Forbion

Forbion’s BioEconomy Fund I has raised €164.5 million to date, exceeding its €150 million target in just over a year, since launching in November 2023.
• Institutional investors, include KfW Capital, Novo Holdings, Rentenbank, Aurae Impact and most recently ABN AMRO Bank and EIFO
• The fund focuses on biotech-enabled, B2B solutions that deliver sustainability at price parity or better across Food, Agriculture, Materials, and Environmental Technologies.

Naarden, The Netherlands, 27 January 2025 – Forbion, a leading venture capital firm with deep biotech expertise in Europe and the US, announces that its BioEconomy Fund I has raised €164.5 million. This exceeds the fund’s €150 million target, underscoring growing investor interest in the commercial potential of biotech innovations that address global sustainability challenges.

BioEconomy Fund I is supported by top-tier institutional investors, including KfW Capital, Novo Holdings, Rentenbank, and Aurae Impact, alongside new backers ABN AMRO Bank and EIFO. The BioEconomy Fund I anticipates a final close at or close to the hard cap of €200 million, demonstrating the growing confidence in biotech innovations that address global sustainability challenges.

Launched in November 2023, the Forbion BioEconomy Fund I is a planetary health fund that targets business-to-business (B2B) solutions that replace unsustainable products with scalable, cost-effective alternatives. A key pillar of the fund’s strategy is ensuring these innovations achieve price parity with incumbent solutions, enabling wide-scale adoption across the fund’s four target sectors: Food, Agriculture, Materials, and Environmental Technologies industries.

Sander Slootweg, Managing Partner and co-founder of Forbion, stated, “Exceeding €150 million in just over a year reflects the strength of our team and strategy and the confidence our investors have in our ability to execute. Their support for BioEconomy Fund I demonstrates the growing demand for scalable, cost-competitive biotech solutions that deliver both sustainability and strong returns.”

Alex Hoffmann, General Partner, added, “Investors recognize the transformative potential of scalable biotech solutions to meet the needs of industries seeking to adopt sustainable practices. Their support empowers us to help companies scale and deliver meaningful change.”

***ENDS***

About Forbion BioEconomy Fund I
BioEconomy Fund I’s focus on using biotechnology and green chemistry to deliver sustainable B2B solutions in Food, Agriculture, Materials, and Environmental Technologies is best exemplified by its initial investments in Solasta Bio and Novameat. These portfolio companies illustrate Forbion’s commitment to scalable, biotech-enabled innovation. Solasta Bio develops sustainable insect control solutions as alternatives to chemical insecticides, while Novameat advances plant-based meat production with proprietary technology designed for scalability and high-quality texture. By building on Forbion’s expertise in biotechnology, the fund aligns its investments with UN Sustainable Development Goals, including SDG 9 (industry, innovation, and infrastructure), SDG 12 (responsible consumption and production), and SDG 13 (climate action). Forbion BioEconomy Fund I aims to deliver strong financial returns while driving impactful solutions to pressing planetary challenges. Forbion announced the first close of BioEconomy Fund I at €75 million on 20 June 2024.

About Forbion
Forbion is a leading global venture capital firm with deep expertise in Europe and the US with offices in Naarden, The Netherlands, Munich, Germany and Boston, USA. Forbion invests in innovative biotech companies, managing approximately €5 billion across multiple fund strategies that cover all stages of (bio-) pharmaceutical drug development. In addition,Forbion leverages its biotech expertise beyond human health to address ‘planetary health’ challenges through its BioEconomy fund strategy, which invests in companies developing sustainable solutions in food, agriculture, materials, and environmental technologies. Forbion’s team consists of over 30 investment professionals that have built an impressive performance track record since the late nineties with 128 investments across 11 funds. Forbion’s record of sourcing, building and guiding life sciences companies has resulted in many approved breakthrough therapies and valuable exits. Forbion typically selects impactful investments that will positively affect the health and well-being of people and the planet, as well as meet its financial return objectives. The firm is a signatory to the United Nations Principles for Responsible Investment. Forbion operates a joint venture with BGV, the manager of seed and early-stage funds, especially focused on Benelux and Germany.

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Star Vision partners with global private equity firm CVC

CVC Capital Partners

A Partnership Deal to Accelerate Global Expansion

Star Vision, the operator of Korea’s leading colour contact lens brand OLENS, has forged a strategic partnership with leading global private markets manager CVC.

This bilateral deal was recently signed, where the existing investors PS Alliance and Pearl Investment have agreed to sell their entire 49% stake in Star Vision to CVC. The transaction values the company in the upper KRW 600 billion range. PS Alliance and Pearl Investment had initially purchased their stake from VIG Partners in June 2022.

Star Vision has demonstrated consistent growth both in Korea and overseas. In Korea, the company prioritizes sustainable growth by providing robust support for its franchisees instead of merely increasing the number of stores. This approach has fostered strong and sustainable relationships with franchise owners over the past 14 years, a strategy that will continue to solidify the company’s leading position in Korea.

Star Vision has also maintained strong growth in the overseas markets, entering the Japanese market in late 2022 and OLENS quickly becoming one of the top selling brands. The company operates over 400 outlets across Asia, including approximately 20 locations each in Hong Kong and Taiwan.

Star Vision chose CVC as the most suitable partner to support the company’s continued growth, expansion in the global market, and evolution into a leading global K-beauty and K-contact lens brand.

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Gilde Healthcare company GT Medical Technologies raises $37 million in to advance GammaTile® for patients with operable brain tumors

January 17, 2025
Tempe, Arizona (United States)

GT Medical Technologies, Inc. (GT MedTech), a medical device company with a corporate purpose of improving the lives of patients with brain tumors, today announced the company has completed a $37 million first close of a Series D financing round.

The financing was led by Evidity Health Capital, alongside new investor Accelmed Partners. Also participating were existing investors Gilde Healthcare, MVM Partners, and Medtech Venture Partners. The funds will accelerate the completion of the ROADS clinical study that is focused on GammaTile for newly diagnosed brain metastases, and the GESTALT clinical trial for patients with newly diagnosed glioblastomas (GBMs). In addition, the funds will support the continued commercialization of GammaTile®, the Company’s FDA cleared bioresorbable radiotherapy implant for the treatment of brain tumors.

By delivering tile-based radiation therapy directly into the surgical cavity at the time of tumor removal, GammaTile provides immediate, localized treatment. This approach targets remaining cancer cells when they are at their lowest levels to help prevent regrowth while minimizing radiation exposure to healthy brain tissue.

About GT Medical Technologies, Inc.
GT MedTech was founded by a dedicated team of brain tumor specialists to address unmet needs in brain tumor treatment. The company is committed to improving the lives of patients with brain tumors through innovative solutions that elevate the standard of care.

About GammaTile®
Since its initial market release in the United States in January 2019, GammaTile has been adopted by more than 100 leading centers, underscoring its growing acceptance in both academic and community healthcare settings. For more information, visit gammatile.com and follow @GammaTile on Facebook, Instagram, LinkedIn and X.

About Gilde Healthcare
Gilde Healthcare is a transatlantic specialist investment firm managing over €2.6 billion across two fund strategies: Venture&Growth and Private Equity. The Venture&Growth fund of Gilde Healthcare invests in fast growing companies active in digital health, medtech and therapeutics, based in Europe and North America. The Private Equity fund of Gilde Healthcare participates in profitable lower mid-market healthcare companies based in North-Western Europe. For more information, visit the company’s website at www.gildehealthcare.com.

 

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Bridges Consumer Healthcare Announces Acquisition of Category-Leading Consumer Health Brand KT Tape

Charlesbank

Chattanooga, TN, January 16, 2025 – Bridges Consumer Healthcare LLC (“Bridges” or the “Company”), a consumer healthcare platform made up of nine over-the-counter (“OTC”) and personal care brands, today announced the acquisition of KT® Tape (“KT”), the leading kinesiology tape brand designed to provide drug-free pain relief and support for muscles, tendons and ligaments. The strategic move diversifies and strengthens Bridges’ portfolio of specialty OTC brands, increasing the Company’s scale and positioning Bridges for accelerated organic growth and further add-on opportunities. Terms of the transaction were not disclosed.

Founded in 2008, KT Tape has been a pioneer in providing drug-free, innovative solutions to prevent and relieve pain and promote recovery. The company partnered with Palladin Consumer Retail Partners (“Palladin”) in 2014 and has earned high customer advocacy with products that appeal to all consumers from professional athletes to those seeking effective relief from everyday pain and soreness. KT is a category leader used by notable athletic organizations including the U.S. Olympic and Paralympic Teams. The addition of KT to Bridges represents the next phase of growth for the brand, with further investment in demand generation, product innovation and omnichannel distribution as part of the Bridges platform. KT is also the fourth acquisition completed since the inception of Bridges and opens the door for additional opportunities for accretive M&A.

“We are excited to join forces with KT Tape to advance our shared goal of delivering innovative over-the-counter healthcare solutions to improve our customers’ everyday health and quality of life,” said John Speranza, CEO at Bridges Consumer Healthcare. “KT’s innovative solutions enhance Bridges’ already-strong position in pain relief, alongside our current brands in the external pain category, ThermaCare and Absorbine Jr. As we begin executing on our vision for growth, we look forward to exploring partnerships with similar brands that can help us scale further.”

“Today’s announcement marks an exciting new chapter for KT, positioning us to reach more customers and continue to drive meaningful innovation through the added scale of the Bridges platform,” said Jessica Klodnicki, CEO at KT Tape. “We have been impressed by Bridges’ leadership and depth of expertise across several consumer health verticals, as well as the Company’s steadfast focus on its customers. We are thrilled to have found another collaborative strategic partner that shares a similar vision for the future of our business.”

Bridges was founded in 2020 by a team of industry executives and Charlesbank Capital Partners to build a market-leading consumer healthcare platform. Since its formation, Bridges has executed on this mission, acquiring nine brands focused on pain relief, women’s health and supplements, and accelerating double-digit growth through strategic marketing, innovation and a diverse range of sales channels, including e-commerce and B2B partnerships.

“Since its formation, Bridges has demonstrated a strong track record of growth, scaling both organically and through M&A, and we are thrilled to welcome another marquee brand like KT to the Bridges family,” said Jesse Ge, Principal at Charlesbank. “This marks an exciting milestone for the Bridges team, as they continue to build a leading consumer healthcare company.”

Mark Schwartz, CEO of Palladin, added, “It has been a pleasure working with the founders of KT, Jessica and the entire leadership team to build a leading consumer product company providing health and wellness solutions for athletes at all levels. We’re confident that Bridges will be a good platform for KT’s next stage of growth.”

Weil, Gotshal and Manges served as legal counsel to Bridges and Charlesbank. Palladin and KT were represented by Houlihan Lokey and advised by Latham & Watkins, RSM US and Andersen.

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Qventus Announces $105 Million Investment, Series D Led by KKR

KKR
  • The Company is a leading AI solutions provider across inpatient and outpatient operations, continuing to drive millions of dollars in ROI for health systems partners for over a decade
  • The investment supports development and expansion of first-to-market AI Operational Assistants, extending the platform even further across clinical operations

NEW YORK–(BUSINESS WIRE)–Qventus, a leading provider of AI-based care automation software for health systems, today announced a $105 million investment led by global investment firm KKR, with additional participation from world-renowned investment firm Bessemer Venture Partners, and new strategic investors, including leading health systems Northwestern Medicine, HonorHealth, and Allina Health.

Qventus has built an AI-first care operations automation platform deployed across leading health systems in inpatient and outpatient settings. This funding accelerates the Company’s ability to provide AI-based automations and AI operational assistants in more care settings, building upon the success of its existing offerings like Qventus’ Surgical Growth and Inpatient Capacity solutions as well as new solutions built on its first-to-market AI Operational Assistants platform capability.

Hospital executives, providers, and frontline staff are overburdened by manual, fragmented, and antiquated processes, which create challenges to achieving their mission of providing excellent care to patients in their communities. Despite having top-of-the-line therapies, clinicians and equipment, healthcare systems are hindered by inefficiencies related to administrative tasks like scheduling, higher costs, and more, which collectively cost the healthcare system billions of dollars every year. In turn, reducing staff burnout from administrative tasks and enhancing productivity have become mission-critical for health systems. Qventus’ transformative solutions and AI teammates help health systems combat these challenges by intelligently automating operations and end-to-end workflows across care settings.

“Across the country, healthcare teams have to do extraordinary things to get ordinary things done every single day. Qventus has dedicated the last decade to building AI automation solutions that alleviate the administrative burden of healthcare staff so they can deliver highly reliable patient care. This funding is a testament to how these solutions generate best-in-industry return on investment, helping health systems achieve the margins needed to fulfill their mission of delivering exceptional care to their communities,” said Mudit Garg, CEO and Co-Founder of Qventus. “This capital primes us to continue maximizing our growth, delivering on our promises to our partners, and launching new, game-changing technology.”

Qventus will leverage this funding to accelerate the development and commercialization of solutions powered by its AI Operational Assistants into new care settings beyond its Surgical Growth and Inpatient Capacity solutions. Enhancing team productivity by up to 50 percent, these AI teammates work alongside care teams to reduce the administrative burden, identify potential issues upstream, surface suggested interventions, and take action to solve problems for busy staff.

“Built on a solid foundation, Qventus has navigated the evolving care landscape and emerged resilient, thanks to its sophisticated technology and proprietary data engine built over the last decade,” said Jake Heller, Partner and Head of Tech Growth Equity, Americas at KKR. “We believe Qventus is well-positioned to be a market leader in supporting care delivery at the provider level and redefining the future of health care by supporting hospital systems in operating more efficiently so they can focus on what really matters–quality care for patients.”

Since its inception in 2012, Qventus has built a suite of AI solutions to address health system pain points across care settings. In the last year alone, Qventus’ Inpatient Capacity solution, which reduces the length of stay and creates capacity, eliminated over 36,000 excess days for its health system partners, saving them millions of dollars and helping them create the capacity to serve more patients in their communities. The company’s Surgical Growth solution drives strategic surgical volume for hospitals, generating $95M in annualized contribution margin in 2024 through Qventus enabled cases. This year alone, Qventus’ platform touched more than half a million surgeries and drove 35% more robotic cases using its technology to spot gaps of time available, helping patients receive the critical care they need.

“By collaborating with Qventus, Northwestern Medicine has been able to significantly address capacity and access demands for our operating rooms which has allowed our patients quicker access to care,” said Doug King, Senior Vice President and Chief Information Officer, Northwestern Medicine. “By deploying Qventus’ solutions, Northwestern Medicine is able to reduce the burden on our clinical teams and allow them to turn their focus to caring for our patients.”

This financing follows a year of significant growth for Qventus, increasing its cadre of health system partners and expanding its team globally. The company received an impressive overall KLAS score of 92.5 percent (as of November 1, 2024) in the capacity management segment, in which 100 percent of customers included Qventus as a part of their long-term plans. Last month, Qventus additionally took home Frost & Sullivan’s Best Practices Customer Value Leadership Award for its commitment to providing best-in-class solutions that generate an average of over 10x return on investment for its hospital and health system clients.

KKR is funding this investment primarily from its Next Generation Technology III Fund.

Wilson Sonsini Goodrich & Rosati, P.C. served as legal advisor to Qventus, Latham & Watkins LLP served as legal advisor to KKR and Wilson Sonsini Goodrich & Rosati served as legal advisor to Bessemer Venture Partners.

About Qventus

For more than a decade, Qventus has been at the forefront as a provider of AI-based software automating care operations in both OR and inpatient settings. By deeply understanding the challenges faced by healthcare providers and applying modern technologies and principles proven in other industries, we empower care teams to make smarter decisions and optimize patient flow, while reducing the cognitive load on team members and improving the patient experience. Our solutions not only deliver meaningful returns but have also recently achieved the highest KLAS rating, creating a competitive edge for our clients, including health systems, independent hospitals, and academic medical centers. By integrating with EHRs, the Qventus platform leverages GenerativeAI, machine learning, and behavioral science to predict operational bottlenecks, recommend remedies, and automate processes. Explore more at www.qventus.com.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

Contacts

Qventus
qventus@solcomms.co

KKR
Emily Cummings
media@kkr.com

 

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TA Announces Completion of Tender Offer for Nexus AG

TA associates

BOSTON and LONDON – TA Associates (“TA” or the “Firm”), a leading global private equity firm, announced today that its holding company, Project Neptune BidCo GmbH, successfully completed its tender offer (the “Offer”) to acquire all outstanding ordinary shares and stock acquisition rights of Nexus AG (“Nexus”), a leading European software company in the e-health sector. This transaction, undertaken in partnership with the Management Board of Nexus, marks a significant milestone in Nexus’s journey, positioning the Company for continued growth and innovation away from a stock market environment.

The Offer, which commenced on November 11, 2024, for 70.00 Euro in cash per share, was completed as scheduled on January 3, 2025, at the end of the additional acceptance period. At the time of completion, the Offer was accepted for 16,402,668 Nexus shares, representing approximately 94.95% of all Nexus shares, including 26.9% which TA secured through irrevocable undertakings with key Nexus shareholders. All of such shares have been accepted for payment in accordance with the terms of the Offer, and TA expects to promptly pay for such shares.

Settlement of the Offer remains subject to customary regulatory conditions, including antitrust and foreign investment control clearances. Subject to the fulfillment of these conditions, settlement of the Offer is expected in Q1 2025, at which point TA intends to delist Nexus from the Frankfurt Stock Exchange, increasing its operational flexibility to focus on long-term growth initiatives.

“TA has followed Nexus’s growth trajectory for many years and admired its leadership in the European e-health market,” said Stefan Dandl, Director at TA. “With its modern technology platform, expansive product portfolio and unwavering focus on customer satisfaction, we believe Nexus is well positioned to capitalize on the growing demand for digital healthcare solutions.”

By taking Nexus private, TA aims to empower the Company to further strengthen its customer offerings, pursue strategic acquisitions and invest significantly in research and development, particularly in areas such as cloud computing and AI-driven solutions.

“We’re excited to partner with Ingo and the exceptional Nexus team to further advance healthcare software solutions that empower healthcare providers and improve patient outcomes,” added Birker Bahnsen, Managing Director at TA.

“Nexus has consistently delivered double-digit growth and strong financial performance,” said Dr. Ingo Behrendt, CEO of Nexus AG. “We believe our strategic partnership with TA will accelerate our ability to develop cutting-edge solutions that enhance the efficiency and quality of care for our customers. With access to significant new resources and greater flexibility to leverage industry tailwinds, we will continue driving value for healthcare providers who trust our platforms to power their digital transformation.”

“After careful consideration, The Supervisory Board and Management Board of Nexus AG unanimously concluded that this strategic partnership represents the best path forward for Nexus, its shareholders and customers,” shared Dr. Hans-Joachim König, Chairman of the Supervisory Board of Nexus AG. “We believe it creates immediate value for Nexus and are excited by the opportunities ahead.”

About TA
TA is a leading global private equity firm focused on scaling growth in profitable companies. Since 1968, TA has invested in more than 560 companies across its five target industries – technology, healthcare, financial services, consumer and business services. Leveraging its deep industry expertise and strategic resources, TA collaborates with management teams worldwide to help high-quality companies deliver lasting value. The firm has raised $65 billion in capital to date and has over 160 investment professionals across offices in Boston, Menlo Park, Austin, London, Mumbai and Hong Kong.

About Nexus AG
Nexus AG develops and distributes software solutions for the international healthcare market. With the clinical information system (Nexus / KIS) and the integrated diagnostic modules, we now have a uniquely broad and interoperable product range that can cover almost all functional requirements of hospitals, psychiatric clinics, rehabilitation and diagnostic centers within our own product families. Nexus AG employs around 2,030 people, owns sites in nine European countries and supports customers in further 71 countries, in some cases via certified dealers. Due to the continuously growing demand for Nexus products, we have been able to build up a large customer base in recent years and regularly achieve increasing sales and results. Further information on Nexus AG can be found at www.nexus-ehealth.com.

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